Stock Movers JPMorgan, Wells Fargo, and Morgan Stanley Higher on Earnings
Apr 11, 2025
JPMorgan's shares soared after it surpassed earnings estimates, though CEO Jamie Dimon remains cautious about a looming recession. Wells Fargo's mixed results showed a boost in shares despite missing on net interest income, as they warned about a slowing economy. Meanwhile, Morgan Stanley celebrated record net revenues of $17.7 billion, with Institutional Securities hitting highs of $9 billion. The discussion highlights the complexities and uncertainties facing these financial giants amidst trade tensions and fiscal concerns.
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Dimon Highlights Economic Turmoil
- JPMorgan's CEO Jamie Dimon highlights economic turbulence despite record earnings.
- Tariffs, trade wars, and inflation are key risks overshadowing positives like tax reform.
Dimon Predicts Likely Recession
- Jamie Dimon predicts a likely recession as companies increase reserves anticipating economic downturn.
- The forecast shift followed a 90-day trade pause impacting market sentiment.
Morgan Stanley's Record Revenue
- Morgan Stanley achieved record revenue of $17.7 billion in Q1, driven by strong equities trading.
- Wealth management and investment banking fees also rose notably despite higher expenses from layoffs.